A Nonprofit Bought Its Sunset Park Home for $7.6M, Then Filed
The buyer already ran its Brooklyn center from the building. The city record shows the next step: two floors converted to community use.
The Chinese-American Planning Council has bought 4101 8th Avenue in Sunset Park from Royal Business Bank for $7.6 million, according to the ACRIS deed, and city records show it filed to convert the building’s first two floors to a community center before the deed was even recorded.
Why it matters
Most building purchases by a nonprofit are quiet. This one left a trail. The ACRIS deed shows Royal Business Bank selling to the Chinese-American Planning Council, Inc. for $7,600,000, signed Sept. 2 and recorded Sept. 15, and the DOB NOW filing for an Alteration CO is dated Sept. 11. The owner named on it is the Chinese American Planning Council. The buyer is not a stranger to the address: CPC already runs its Brooklyn Community Center there, which offers immigration help and naturalization classes. Owning the building puts that work on firmer ground. The Pincus Co. report reported the same price and seller; its full text is paywalled, and we could not see what CPC says it plans.
The numbers
The filing covers 4,000 square feet in a five-story building with no dwelling units, at a stated cost of $20,000. The job description reads: convert the existing first and second floors to a community center, and amend the certificate of occupancy. That is a paperwork-scale job, not a gut renovation. The price is the larger number: $7.6 million for the building. The lot’s older record, available through 2015, shows a 2002 deed to First American International Bank and no foreclosure. We cannot say this was a foreclosure sale, only that a bank was the seller.
What’s next
Watch the DOB job, which sits in plan examiner review, for approval of the new community use. Watch ACRIS for any mortgage CPC took on against the purchase. For developers and lenders, the pattern is familiar: a tenant with a long history in a building is often the natural buyer when a bank wants out. More on deals across the boroughs is on the New York market page.
On the record
What we checked ourselves, and where you can check it too.
- Public recordDOB NOW job B01452888-I1 was filed Sept. 11, 2026 as an Alteration CO for 4101 8th Avenue (BBL 3009230009), owner Chinese American Planning Council, to convert the existing first and second floors to a community center and amend the certificate of occupancy. Stated cost is $20,000 on 4,000 square feet in a five-story building with no dwelling units.View the record on data.cityofnewyork.us
- Public recordThe deed's ACRIS document number, 2026091400504001, (CRFN 2026000262939) is a deed for $7,600,000 from Royal Business Bank to Chinese-American Planning Council, Inc., signed Sept. 2, 2026 and recorded Sept. 15, 2026, so the DOB filing landed four days before the deed was recorded and nine days after it was signed. The record matches the price and parties Pincus Co. reported.View the record on a836-acris.nyc.gov
- Public recordThe lot's earlier ACRIS history, which the open data carries through 2015, shows a 2002 deed from Sing Chian Inc to First American International Bank, a 1988 deed from Alfred and Margaret Panarello to Sing Chian Inc, and no foreclosure filing. We could not confirm how that chain connects to Royal Business Bank, so this sale is not shown to be a foreclosure sale.View the record on a836-acris.nyc.gov
Sources
- NYC ACRIS, deed document 2026091400504001Deed document for 4101 8th Avenue, Brooklyn (block 923, lot 9)
- NYC DOB NOW job filing B01452888-I1Alteration CO filed Sept. 11, 2026, owner Chinese American Planning Council
- Pincus Co., Sept. 16, 2026Chinese-American Planning Council pays $7.6M to bank for office in Sunset Park
- CPC, Brooklyn Community CenterCPC Brooklyn Community Center at 4101 8th Avenue